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Just a quick take on the AGM yesterday.
The AGM took place in a restaurant in Randburg, not really a conferencing setting, not well attended I would say. The place was noisy, restaurant staff moving and chatting, trucks passing by, one could hardly hear the topics discussed & answers given (1st half). Quite poor from my perspective. We could have even used one of their school halls to be honest, with a microphone and a speaker, they are a start up after all. No need to go fancy, but the quality could have been better.
Questions asked for for me were not answered in a satisfactory and comforting manner. Issues of liquidity for example, as stated in the reports that the “going concern” topic is an issue.....Management + Directors could not answer how long the company will be able to go on with the cash they have in the bank or that they generate. In my books they are in over their heads.
Concerning to me me was also the topic of the suspension, Management and directors do not know when the suspension will be lifted. When I called last week, I was told this any time this week, but did not happen.
Why concerning ? Well the CEO indicated they are not able to continue with the schools expansions due to the fact that they cannot raise capital as a result of this suspension. Then they shift the blame....it’s up to the JSE when the suspension will be lifted. They further more placed the blame on the previous Finance person that they appointed for the delay in results, trying to give comfort with the fact that the person is no longer with the company. In my books they didn’t take accountability at all.
In in terms of regulatory understanding....zero....willingness to get up to speed, I did not see it. Shareholders in this company are taken for ****. Rookie mistakes point me to this conclusion.
PEM is a great idea, with potential but being run by incapable management. I will salvage what I can if trading resumes....much more better opportunities in the market. One cent is coming for this one. Too many wrongs and they don’t know how to fix it and not willing to get help to do so.

All the other banks breathed a sigh of relief. Apparently whites hold all the money in SA and after that I'm sure most won't rush to open an account.
Funny thing though: there is white outrage (and f*cking rightly so) on Twitter but I do not see blacks taking joy in it or slamming the whites for being "racist" etc.
Anyway, I just finished moving my life insurance to them not too long ago but in the past I've felt like moving my medical aid away from them. Won't do any knee jerk reaction but the case for exploring alternatives is much stronger than before where Discovery was seen as the defacto standard. Deep inside me I feel "filthy" knowing I'm helping to fund a company with racist policies - whether those policies come from a place of them trying to do something good or just a political cheapshot (bets on getting more black customers and get the whites anyway despite their outrage).

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Day 7 of the trial played out this morning in Cape Town. The effectiveness of the security at the De Zalze estate still receiving a lot of fire from the defence.
It was an exceptionally long day in court so bear with me as I try and recap it for you as accurately as possible.
The day started with witness number 80 on the list. Marcia Rossouw, security manager at De Zalze.
She took over as manager in 2014 and made several improvements whilst working there, such as upgrading the electric fence. She says the additional cameras that were installed was not as a result of the murders.
At the time of the murders, there were optic cameras at all the gates and at other strategic points. There is an optic camera where the river enters the estate, there are also beams and the thermal cameras which have been discussed by Mr Afrika.
There are two security routes, one that happens within the estate and one that runs along the perimeter.
The report from that night shows that all the patrols happened on schedule.
Rossouw said that once the system is triggered someone would need to go out and resolve the issue for it to be deactivated.
The Van Breda home is in the middle of the estate with a 2-kilometre distance from where the river enters the estate to their home. The airfield gate is 1 kilometre away.
Rossouw says when she heard of the incident she requested that the fence is inspected thoroughly for any entry point, and the check the system for any activations and to look at the camera reports.
The four incidents that were reported was followed up on and was apparently a power drop.
There were no discrepancies in any of the 18 cards that were used to enter and exit at the gates (as sometimes homeowners would lend their cards to others)
Rossouw echoes all the previous security witnesses that there were no incidents or anything suspicious that night.
Advocate Botha then questioned Rossouw and said that there would need to be a light on for the cameras to pick up anyone on its footage. Rossouw retorted and said that there were lights with the cameras except for the Eskom gate camera.
Botha asked about the anti-dig by the fence and says that there are various areas that do not have it. Rossouw responded and said that it is still like that.
Judge Desai asked if it would be possible to dig a tunnel underneath. Rossouw said that there would have been evidence of this, no footprints, damage or wires being cut.
Advocate Botha said that he planned on showing the court how rocks can be used to cover up such an entry through the fence. (Whether he means under or literally through, I am not certain)
There is a report that points out various errors in security, especially with the cameras. Spotlights and a security guard were recommended for the fence around where the river enters the estate. Rossouw says that these were not in place in 2015, only an optic camera.
Botha then said that one point while he was visiting the estate there was an unmarked vehicle with a member of the press taking pictures of the home. They had gained entry under the pretence of going to the Klein Zalze restaurant. The bridge from Klein Zalze to the estate did not have access control.
Botha said that on the report there were more than four "alarm ons" and whether Rossouw had seen this. She said she had. At 1:08 there was an alarm activated. Rossouw says fences are activated when they get tested, these get logged as such. But Rossouw also said that she did not check personally that these were indeed fence tests.
The next day the alarms were said to have been a result of the power dip. There are two different alarms, one alerts the controllers and the other caused by the dip in power, and responders would not be sent out then.
Botha then referred to an old attempt at entry into the estate and Rossouw said that those people did not gain entry and that the security was very quick to respond.
The court is adjourned until tomorrow.

Personally I would by the Xbox One, I have a PS3 and will be the new PS5 if it ever gets released just because I own it since the PS one and love the remote.
Anyway the reason I say buy the Xbox over the switch is because it will end up in your living room as the home entertainment system with netflix and 4k streaming. Dad and his new toy (disguised as a gift for the boys)
The Nintendo switch is like a upgraded version of the PlayStation Vita, which was nice at the time, but you have mobile phones now packing more detail. If I was you, I would go to Cash Crusaders and buy a Xbox One plus 2 controllers plus a ton of games all for less than what the Switch would cost new.
I don't think I would've been able to tell the difference between new and used when I was 8 years old.
(Being a financial focused forum, I had to include the "don't buy new at inflated prices" comment.)

I’m not too sure of the circumstances of the truck agreement but I’d be weary about it. It seems as if the business stops payments (because of bankruptcy etc.) it would be your name and credit score that is damaged. You also may not have a claim on the asset if you aren’t one of their creditors so it could get taken away and you’re left with monthly installments to pay. This could cause you to default on payments and then will obviously fair quite badly when trying to get a home loan.

I've got a Charge HR 2 and I love it, the data is great. I've got it set up to sync my workout data to Toggl as well which is nifty, info here if anyone is interested https://jcpretorius.com/post/2018/automatically-sync-fitbit-workouts-to-toggl

I like L4L, i just don't have them in my portfolio, very tempting at current levels. The share didn't react positively to the RAGE acquisition news , comments like "Joffe overpaid for Rage" came out of some market commentators mouths. Only time will tell whether he did or didn't.

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Day 25 was, I am sure, a very compelling day in court. Not so much by words but visually.
The 30-minute video Hitchcock took of the scene that greeted him that morning at 12 Goske Street was played in court.
Advocate Botha objected to the video being played by the State as he said evidence had been tampered with between the time the video was taken and the photographs were taken, as well as the gruesome nature of the video, showing close-ups of the dead bodies of Martin, Rudi and Teresa.
Judge Desai overruled the objection but he did clear the public gallery. The media was allowed to view the footage but were warned that they may not be graphic in their reporting.
Henri had moved to another bench so as not to view the footage of his previous home on that morning.
Hitchcock’s recording showed bloody footprints and blood spatters in the entrance hall. The lounge seemed to look normal, with everyday things standing and lying around. Magazines and a laptop on tables, a handbag and a monopoly board. It all seems so normal until you remember what had happened.
In the kitchen there were cigarettes and a lighter, a cordless phone and a cellphone were lying on the counter. Kitchen drawers were slightly open. Cigarette butts lay on the floor, seemingly burnt out on their own. A drop of blood was noted on the doorway leading to the pantry.
The back door stood open, and items on a washing line could be seen.
A perimeter inspection showed numerous first floor and second-floor windows open. Two blood droplets were shown on the boundary wall near the gate where the key was still in the keyhole.
Back inside, Hitchcock moves toward the tiled stairs. There is blood spatter at the foot of the stairs next to a pair of shoes. As he continues up the stairs blood spatter is seen everywhere but the top few steps were completely covered in blood.
At the top of the staircase, next to a bookshelf, Teresa lies on her stomach in a pool of blood, wearing a vest and underwear.
Moving on to Henri and Rudi’s room, Martin’s body is collapsed over the bed closest to the door. The wall above the headboard is covered with blood spatters, as is the gray duvet and pillow on the bed that he lies on.
At the end of the second bed, Rudi is seen on the floor with his feet towards the en-suite bathroom.
In the en-suite bathroom, Hitchcock has footage of the faeces in the toilet. Henri said in his plea explanation he had been busy passing his bowels when he heard the noises in the bedroom.
There is footage of all the valuables still in the house. Various laptops and cellphones were left as they are.
A variety of footprints were marked, but Botha pointed out that there were much more. Hitchcock said only those that were thought relevant were taken (38 pairs)
Shoe print expert Captain Danie van der Westhuizen is next on the stand.